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Wall Street Closed in the red (SPY -0.01), but flat as investors assessed the outlook for U.S. interest rates, while Sprout Farmers Market's forecast weighed on grocers. Volume was very low in most of today's session as WTI crude settled in the mid 45 handle. The US dollar also settled higher while gold remain depressed today.

Todays S&P 500 Chart

The Market in Perspective

SAN FRANCISCO (Reuters) - Apple Inc unveiled its new water and dust-resistant iPhone 7 with high-resolution cameras at its fall product event on Wednesday, and said a Super Mario game was coming to the new phone and Pokemon Go would feature on its upgraded Apple Watch.

(Reuters) - Hewlett Packard Enterprise Co (HPE) is nearing a deal to sell its software division to Britain's Micro Focus International Plc , a person familiar with the matter said on Wednesday, as the U.S. company focuses on networking, storage and data centers.

BOSTON (Reuters) - Activist investor William Ackman is hungry to repair Chipotle Mexican Grill after taking a stake in the burrito chain and could begin by shaking up a long-serving board and possibly replacing the two co-chief executives, analysts and investors said.

DUBLIN (Reuters) - The European Union's demand that Ireland claw back billions in tax from Apple has hit the country's reputation as an investment destination just as it eyes up opportunities from Brexit, but officials say the damage will be limited.

BRUSSELS (Reuters) - EU officials are livid at their former boss Jose Manuel Barroso for taking a job at Goldman Sachs that has drawn public scorn just as they are trying to win back trust in a European Union wounded by Britain's Brexit vote.

WASHINGTON (Reuters) - The U.S. economy expanded at a modest pace in July and August, the Federal Reserve said on Wednesday, but there was little sign that wage pressures are being felt beyond highly skilled jobs.

The Internal Revenue Service isn't too keen on the recent advertisements suggesting retirement savers store their tax-free individual retirement account funds in gold at their house or in safety-deposit boxes, the Wall Street Journal writes.

Storing Gold at Home: Legal, But with Caveats

The statement from the IRS comes in response to a number of ads online and on the radio, such as one from Hartford Gold Group, suggesting investors can avoid stock market turbulence by investing IRA accounts in gold coins and bullion they can store where they like, including their home, according to the Journal.

But the law on such practices is cloudy, the publication writes.

For example, IRA assets can't be stored in collectibles such as antiques, gems, artworks or wine, according to the Journal. On the other hand, it's legal to keep IRA investments in coins and bullion-quality bars in metals such as gold, silver and platinum, the publication writes.

But few IRA investment providers offer the option — Vanguard and Charles Schwab don't allows their clients to invest IRAs in physical metals, according to the Journal.

The IRS may be taking issue with just how difficult and expensive investing in physical gold could end up for the investor. Fidelity, which allow ...

The correlation across asset-classes over the past few months - as global central banks ramp up QE to $200bn per month - is near record highs.

Massive central bank stimulus with below zero rates and quantitative easing has led to increasingly dysfunctional markets, with even the negative correlation between stocks and bonds breaking down. As we have noted previously, they are now largely moving in the same direction as markets have become more driven by central banks, leaving investors with no place to hide.

And short-term (intraday) bond-stock correlation has spiked near record highs...

Raising notable concerns over a risk-parity fund blow up. As BofA warns: "Latent risk remains worth monitoring, as (i) leverage is still near max levels across a variety of risk parity parametrizations, (ii) bond allocations are historically elevated, and (iii) markets continue to be sceptical of a 2016 Fed hike."

If BofA is correct, it would mean that a day which sees a -4% SPX drop and +1% bond ra ...

Altaira Capital Partners director of technical analysis Ralph Acampora went on CNBC to explain how stocks are setting up for a dramatic move higher, thanks to the current leadership in technology and financials.

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